Salient to Investors: David Stockman writes: Emerge Energy Services’s parabolic rise from its IPO and absurd valuation demonstrates the momo play by robots, day traders and flavor-of-the-month hedge funds in a stock market that has been destroyed by the Fed. Emerge is a poster boy for the irrational exuberance that has become institutionalized
READ MORE... →Salient to Investors: Fareed Zakaria said: All through history, humans have advanced when they have been able to work together. Matt Ridley said human progress took off when human beings began exchanging things, ideas, skills, goods, services. Teamwork is the most crucial skill and yet education is mostly about solo performances.
READ MORE... →Salient to Investors: Gary Shilling writes: Persistently slow growth will NOT be the norm for years to come. When private-sector deleveraging is completed, real GDP growth will return to its long-run trend of 3.5 percent or more. Productivity will return to 2.5 percent annual growth or more after deleveraging is
READ MORE... →Salient to Investors: Expanding populations fueled global prosperity with both workers and consumers but global aging threatens to cause chronically weak economic growth, a more volatile international economy and the risk of a new financial crisis triggered by innovative investments dubbed “death derivatives.” Rob Arnott at Research Affiliates said our
READ MORE... →Salient to Investors: Jeremy Grantham at BMO writes: The Greenspan-Bernanke policy of excessive stimulus, now administered by Yellen, will continue, and that the path of least resistance, for the market is up. It would take a severe economic shock to outweigh the effect of the Fed’s relentless pumping of the
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